Credit Scores Explained

A credit score is a 3-digit number that provides a snapshot of your financial habits. Credit scores usually range from 300 to 850. The higher the credit score the lower the risk to lenders. Your credit score is based on 5 important factors: payment history, credit utilization, credit history, credit mix, and how much new credit you have. A stronger credit score can provide you with a better chance of approval, higher credit limits, and lower interest rates.

To learn more, view the video here.

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